April 19, 2024
Bitcoin ATMs Vulnerable to Total Control Flaw
Bitcoin News

Bitcoin ATMs Vulnerable to Total Control Flaw

Bitcoin ATM provider Lamassu Industries addressed a security vulnerability in its Bitcoin (BTC) ATMs after ethical hackers gained full control of the machines, exposing weaknesses. In 2023, researchers from IOActive attempted to compromise Lamassu’s ATMs, discovering vulnerabilities that allowed them to exploit and control the machines.

According to Gunter Ollman, CTO at IOActive, attackers could “view and manipulate interactions” with the hijacked ATM, potentially stealing BTC from users’ wallets and tricking them into disclosing bank account details.

“A sophisticated attacker, with sufficient preparation, could modify or replace the entire user experience of the ATM and socially engineer the user into performing additional actions.”

Ollman highlighted that when a device is compromised at the operating system level, the extent of the attack depends on the user’s trust in the device or manufacturer. Gabriel Gonzalez, Director of Hardware Security at IOActive, emphasized that the vulnerability granted an attacker with physical access “full control,” enabling potential theft of all money in the ATM and manipulation of displayed deposit amounts.

Despite the severity of the flaw, Lamassu had already deployed a security patch to address the issue before it was publicly disclosed in 2024. The company promptly informed ATM owners, urging them to update their Bitcoin ATMs.

Image by rawpixel.com on Freepik

Related posts

Bitcoin Options Surge as Investors Bet on Triple-Digit Price Gains

Cheryl  Lee

Donald Trump Shifts Stance on Bitcoin Ahead of 2024 Election Campaign

Anna Garcia

Spot-Bitcoin ETF: Coinbase CEO’s View on Crypto’s Game-Changer

Bran Lopez

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More